In celebration of the day on which he was born, Armistice Day, he was given the middle name Peace.
I have no idea why he was given the first name Willard.
All of Willard's grandparents were born in the Netherlands and came to America. His father's family came in 1887 and his mother's in 1890. His parents were born in the United States.
According to this article on Dutch naming traditions, sons were usually named after their grandfathers. The first son gets the name of the father's father and the second son gets the name of the mother's father. Both of Willard's grandfathers were named Jacob. Both of the fathers of Willard's grandfathers were named Jacob. Willard's own father was named Jacob.
I did not find out until Willard had passed away, but he was quite displeased that he didn't get named Jacob.